Find the amount and the compound interest on Rs. 8000 at 5% per annum, for 2 years compounded annually.
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Answered by
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principal = 8000
rate = 5%
time = 2 years ( 2 terms)
Amount = P(1+ R/100)^n
= 8000(1+5/100)²
= 8000* (1+1/20)²
= 8000 *( 21/20)²
= 8000 * 441/400
= 20 * 441 = 8820 /-
:. CI = Amount - Principal
= 8820 - 8000
=. 820.
Hope it helps!
rate = 5%
time = 2 years ( 2 terms)
Amount = P(1+ R/100)^n
= 8000(1+5/100)²
= 8000* (1+1/20)²
= 8000 *( 21/20)²
= 8000 * 441/400
= 20 * 441 = 8820 /-
:. CI = Amount - Principal
= 8820 - 8000
=. 820.
Hope it helps!
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